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Quantum Isn't Coming For Your Bitcoin
The article addresses the FUD surrounding cryptographically relevant quantum computers (CRQCs) and their potential threat to Bitcoin. It argues that the threat is currently unrealistic, despite significant investment in quantum computing research. Current quantum computers are extremely limited and require immense resources for even simple tasks, far from breaking Bitcoin's cryptography.The author draws an analogy to SpaceX and the Space Shuttle to illustrate how funding does not guarantee practical technological advancement. Recent quantum computing advancements are described as either theoretical mathematical progress or broad, unfocused hardware exploration rather than a linear path to a CRQC. The fundamental theoretical challenges of representing the vast computational space required for cryptographic breaking remain significant.While current quantum computers are not a threat, the article stresses that Bitcoin development must continue. This is because other cryptographic vulnerabilities could emerge, and preparing for them strengthens Bitcoin's overall resilience. The development of new post-quantum signature schemes will enhance Bitcoin's security regardless of whether actual CRQCs are ever realized.